EVlution, RHB & Mastercard Tri-Party Partnership Eyes 2,000 EV Chargers By 2025

EVlution, RHB Banking Group (RHB) and Mastercard took a big step towards implementing low-carbon policies by officially deploying EVlution Charging Stations at the RHB Centre earlier today.

This historic occasion, attended by the Transport Minister YB Loke Siew Fook, coincided with the RHB Green Week showcase, which runs from April 16 to 18.  This tri-party collaboration, as noted by EVlution, is an ambitious effort by the group to install 2,000 EV charging stations throughout Malaysia by 2025.

The aim is to enable easy access to electric vehicle charging at key locations across the country. In his speech, Minister Loke underlined the government's support for efforts that align with the Low Carbon Mobility Blueprint 2021-2030 with a set goal of creating a green vehicle ecosystem.

Mohd Rashid Mohamad, Group MD and CEO of RHB Banking Group, emphasised the institution's responsibility in fostering positive change by incorporating best practices into their long-term Sustainability Roadmap and Strategy. He added that this collaboration promotes EV adoption in accordance with the National Transport Policy and contributes to the nation's objective of having 1.5 million EVs on the road by 2040.

Dr Jeffrey Ong, CEO of EVlution, reaffirmed the company's objective to transform Malaysia's automotive scene by providing innovative, affordable, dependable, and sustainable EV charging options.

EVlution wants to have 100 operational EV charging bays in key metropolitan regions by the first half of 2024, as part of their commitment to boosting renewable and clean energy through participation in the Large Scale Solar (LSS) programme. This number is doable but is significantly lower then its initial target of having 200 EV Chargers in 2023 and 1,000 in 2024. To date according to EVlution’s website, they have rolled out 14 charging hubs at 8 locations.

The folks at EVlution further noted that they are the only Charge Point Operator (CPO) in Malaysia that offers a combined payment mechanism. What that means is all payment methods are under the EVlution's proprietary ecosystem be it via its APP or contactless payment terminal. This is different from the system adopted by DC Handal where it offers only its own contactless payment terminal while opting to roam on both ChargEV and JomCharge's APP. 

Beena Pothen, Country Manager for Malaysia and Brunei at Mastercard, highlighted how this partnership would facilitate cashless EV charging, expediting Malaysia's transition to a cashless society and boosting EV adoption. Mastercard, EVlution, and RHB have planned exciting campaigns and special offers for cardholders, set to be unveiled in the coming months.

The charging rates at all EVlution stations are time- and  kW-based. It starts from RM0.07/min for 4kW and goes up to RM0.40/min for 22kW. According to EVlution, this works out to about RM1.09/kWh.

However take note there is a RM5 minimum charge rate, and a RM50 pre-authorisation payment that’s refunded back after.